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Jubilant Foodworks Limited ( (IN:JUBLFOOD) ) has provided an update.
Jubilant FoodWorks Limited has disclosed that the Assistant Commissioner, CGST Division I, Mohali has issued an order demanding goods and services tax (GST) of ₹81.16 lakh, an equivalent penalty, and applicable interest linked to allegedly excess input tax credit claimed under the Input Service Distribution mechanism. The company contends the order is incorrect and does not adequately consider its arguments, and it plans to challenge the demand through an appeal, while emphasizing that the matter is not expected to have a material impact on its financials, operations, or other activities.
More about Jubilant Foodworks Limited
Jubilant FoodWorks Limited operates in the quick-service restaurant (QSR) and food services industry, best known as the master franchisee for leading international food brands in India and other markets. The company focuses on large-scale, multi-outlet operations and targets mass-market consumers through its extensive restaurant network and delivery-led business model.
Average Trading Volume: 128,489
Technical Sentiment Signal: Sell
Current Market Cap: 371.7B INR
For a thorough assessment of JUBLFOOD stock, go to TipRanks’ Stock Analysis page.